Digital Asset has secured US$355 million in a funding round led by Andreessen Horowitz‘s crypto fund, a16z crypto, to expand its Canton blockchain network for institutional finance.
The round included participation from both traditional and decentralised finance institutions.
Notable backers include ABN Amro, a subsidiary of the Abu Dhabi Investment Authority, BNP Paribas, Broadridge, Citadel Securities, and HSBC.
The company will use the Digital Asset funding to scale the Canton network.
Digital Asset plans to deepen its engagement with developers and financial institutions. The company will focus on bringing more assets and regulated workflows onchain.
“For capital markets to move onchain, institutions need infrastructure that reflects how they actually operate with privacy, compliance, scale, and interoperability built in from the start,”
said Yuval Rooz, Co-Founder and CEO of Digital Asset.
Rooz noted that Digital Asset is working with more than 700 participants to establish Canton as core infrastructure for global finance.
The network is designed to address barriers to blockchain adoption by enabling institutions to use shared infrastructure while maintaining necessary regulatory controls.
“Digital Asset has built one of the clearest examples of blockchain product-market fit in regulated finance,”
said Ali Yahya, General Partner at a16z crypto.
The investment also establishes a broader partnership between Digital Asset and a16z crypto.
The blockchain firm will draw on the investor’s expertise in policy and research to support its growth in tokenisation, collateral mobility, and settlement use cases.
Featured image credit: Edited by Fintech News Switzerland, based on image by mrsiraphol via Magnific
